Indian shares slumped more than 1 percent on Friday, in line with Asian peers, as the global rout in equities returned, while lingering concerns over inflation back home weighed on the market.
Asian stocks tumbled to two-month lows after U.S. shares plummeted again in the face of rapidly rising bond yields.
The broader NSE Nifty was down 1.6 percent at 10,410.50 as of 0549 GMT, while the benchmark BSE Sensex was 1.5 percent lower at 33,893.08. In early trade, all the constituent stocks were in the red.
The partially convertible rupee dropped to 64.38/39 per dollar, compared with its previous close of 64.2550. The benchmark 10-year bond yield was down 1 basis point at 7.46 percent.
Financials such as ICICI Bank Ltd and Housing Development Finance Corp Ltd were the biggest drag on both the indexes, shedding over 2 percent each.
Glenmark Pharmaceuticals Ltd dropped as much as 9.6 percent to its lowest in over three years after the pharma company posted disappointing quarterly results on Thursday.
Meanwhile, Tata Steel Ltd recovered from early falls to climb as much as 2 percent ahead of its December-quarter results.
